Comment on Today’s Continued Good Economic News

Date: December 10, 2019

Gov. Brad Little doing his part to sustain healthy numbers

FOR IMMEDIATE RELEASE
Contact: Suzanne Budge, Idaho State Director, [email protected]
or Tony Malandra, Senior Media Manager, [email protected]

BOISE, Idaho, Dec. 10, 2019—Today’s release of the latest Small Business Economic Trends report from NFIB shows America’s Main Street economy not slowing down a bit, and, according to the small business association’s state director, the outlook for sustainability is looking better thanks to innovative governors like Idaho’s Brad Little.

“The economy we’re living through now is the best in the last 50 years,” said Suzanne Budge, Idaho state director for NFIB. “Record highs in the important things, such as small-business investment in expansion and employee salaries, and record lows in unemployment. It is vital, however, for everyone to understand that this is not some unexplainable phenomenon, it’s by design and started with President Trump’s first days in office putting the breaks on federal regulations, followed by his signing of the Tax Cuts and Jobs Act, and is being followed through by governors like ours who are doing the same on state regulations. Want to revive an economy? Start by lifting the yoke off small-business owners’ backs.”

In the news release announcing the latest SBET numbers, NFIB Chief Economist William Dunkelberg said, “Owners are aggressively moving forward with their business plans, proving that when they’re given relief from the government, they put their money where their mouth is, and they invest, hire, and increase wages. Owners are most closely focused on issues that directly impact their businesses, including the real, significant tax relief they were given two years ago, and they’re anxious to see that relief made permanent.”

Budge added that when states step up, economies get added jet fuel. “Wednesday’s announcement by Governor Little that his regulatory initiatives have cut and simplified state rules by 75 percent, and has now made Idaho the lowest regulated state in the nation, was music to the ears of those thinking of expanding their Idaho enterprises or moving their out-of-state businesses here. What that will translate into are more jobs, better-paying jobs, and a larger pool of tax revenues for all the things the Legislature wants to pay for. That is the only to spur economies. Government intervention has at best proved only a short-time fix with a long-lasting hangover.”

About the SBET

The NFIB Research Center has collected Small Business Economic Trends Data with quarterly surveys since 1973 and monthly surveys since 1986. The sample is drawn from the membership files of the National Federation of Independent Business (NFIB). The SBET is one of the few archival data sets on small business, particularly when research questions address business operations rather than opinions. Today, it’s the largest, longest-running data set on small business economic conditions available, used by the Federal Reserve, presidential administrations, Congress, and governors and state legislatures across the nation as the gold standard measurement on the economic health of Main Street enterprises. The report is released on the second Tuesday of every month.

Keep up with the latest on Idaho small business at www.nfib.com/idaho or by following NFIB on Twitter @NFIB_ID

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For more than 75 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is a nonprofit, nonpartisan, and member-driven association. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses and remains so today. For more information, please visit nfib.com.

National Federation of Independent Business/Idaho
802 W. Bannock, Ste. 301
Boise, ID 83702
208-345-6632
www.nfib.com/idaho
Twitter: NFIB_ID

 

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